Pullback to 9,434
June 28, 2006
The market finally halted its decline and staged a pullback to 9,434 with all the major stocks closing at their upper limit. Once again there were massive spreads in certain stocks, NBP from 180 down to close at 197.65 and FFC bashed down to 111 to close at 120.2 .The next pullback is 9,600 ? 9800 ? or back down to 9,200 ? Till the result season arrives at the end of next month, keep that Vaseline jar handy, or better still wait for the market to close firmly above its 200 dma.
Market closed : 9,434.15 — 392.53 points up.
